Sr Fin & Prov Comp Anlst

Covenant Health•Knoxville, TN

17d

About The Position

Senior Financial & Provider Compensation Analyst Full Time, 80 Hours Per Pay Period, Day Shift Covenant Medical Group is Covenant Health’s employed and managed medical practice organization, with more than 300 top Physicians and providers spanning the continuum of care in 20 cities throughout East Tennessee. Specialties include cardiology, cardiothoracic surgery, cardiovascular surgery, endocrinology, gastroenterology, general surgery, infectious disease, neurology, neurosurgery, obstetrics and gynecology, occupational medicine, orthopedic surgery, physical medicine and rehabilitation, primary care, pulmonology, reproductive medicine, rheumatology, sleep medicine and urology. Position Summary: Responsible for providing support to the VP of Finance by analyzing financial information and developing proformas on new practices, capital purchases, expense requests and other projects. This position will also support the VP of Provider Compensation by understanding Provider contracts, analyzing, and developing Provider compensation models and calculating provider bonuses. Recruiter: Brittany Smithson || [email protected]

Requirements

Minimum Education: Bachelor’s Degree in related field.
Minimum Experience: Minimum of four (4) years in Healthcare Accounting or Finance, or related experience.
Must have a minimum of four (4) years in Healthcare Accounting or Finance.
Must be familiar with provider compensation, use of Medical Group Management Association (MGMA) data and benchmarks, and compensation analytics.
Licensure Requirement: None.

Nice To Haves

Experience with physician practice finances a plus.

Responsibilities

Determines justification for new/replacement equipment (e.g. ‘Nuc Med’ Cameras, Ultrasounds, X-rays, etc.) that supports patient care, by developing proformas and / or financial analysis for VP of Finance or review/approval.
Creates Proforma that reflects expected/past reimbursements generated from existing/new revenue sources vs. anticipated expenses, after due diligence research. May have to work with corporate legal team to complete Proforma for submission to VP of Finance review/approval.
Manages maintenance agreements through partnering with Corporate Materials Management to affirm alignment between CMG and system contracts to ensure the best rate(s). Will track contracts in preparation for future budget reviews/projections.
Develops Proformas for onboarding practices, adding Providers to existing practices and changes to Providers practice of patient care. Will prepare for VP of Finance review/approval.
Will project and update Provider bonuses in the financial system, mid-year to align with month end close. Calculate cost/expense during the year for Medicare Advantage plans to offset Provider bonuses via reporting, for VP of Finance review/approval.
Assists the VP of Compensation with Provider compensation bonus calculations and communication to stakeholder groups. Projects future bonuses to be used in budgeting and financial reporting. Develops FMV compensation review, by specialty.
Supports Provider recruitment by assisting the VP of Finance with development of Provider compensation packages, during the recruitment cycle.
Reviews Special Payment Requests for Providers by reconciling payments against contractual obligations, ensures proper payment coding and logs appropriately. Evaluates Provider CME travel requests and reimbursement requests against policy for VP of Finance review/approval.
Reconciles capital expense(s) to budgetary line items in line with company processes. Will verify equipment for staff and Providers are needed. Work products will be reviewed by the VP of Finance.
Follows policies, procedures, and safety standards. Completes required education assignments annually. Works toward achieving goals and objectives and participates in quality improvement initiatives as requested. Performs other duties as assigned.